SBI Q2 profit slumps 38% YoY to Rs 1,582 crore

State Bank of India, India's largest lender, on Friday reported a 37.7 per cent YoY drop in standalone net profit at Rs 1,581.55 crore for quarter ended September 30, 2017. This was way short of Rs 2,700 crore profit forecast by analysts polled in an ET Now survey. The state-run lender had reported a profit of Rs 2,538.32 crore in the corresponding quarter last year. Net interest income (NII) at Rs 18,595 crore came in better than ET Now's poll estimate of Rs 18,372 crore